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May 05 - 08:55 PM

EUR/USD - Opens Slightly Lower As It Hovers Above Support

By John Noonan  —  May 05 - 06:46 PM
  • EUR/USD opens 0.07% lower after trading as low as 1.1986

  • Slight easing of US yields and dovish Fed-speak underpinned EUR/USD at lows nL1N2MS240nS0N2LF00DnL1N2MS1L8

  • EUR/USD closed below the 21-day MA (1.2017) and remains heavy

  • Support is at the 38.2 of the 1.1704/1.2150 move at 1.1979

  • A break below 1.1975 would suggest a short-term top is in place at 1.2150

  • Resistance is at yesterday's 1.2026 high and the 10-day MA at 1.2063

  • Barring news, EUR/USD may consolidate ahead of Friday's US payroll report

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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